Citi slashes 12-month bitcoin, ether targets as ETF flows dry up
The bank cut its 12-month bitcoin and ether price targets after scrapping its ETF inflow forecasts, citing stalled U.S. crypto legislation and weak investor demand.
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Summary
- Citi cut its BTC target to $82,000 from $112,000 and ETH target to $2,240 from $3,175.
- The bank now expects zero net ETF inflows over the next 12 months, versus previous forecasts for fresh demand.
- Stalled U.S. legislation, weak market sentiment and concerns over digital asset treasury selling have outweighed supportive macro conditions.
